Business Interruption Insurance explained
This type of policy is designed to keep you covered should your business have to temporarily close due to something out of your control. For example, you might have to move to a temporary site whilst repair work is taking place at your existing property.
The last thing you need at a time like this is dealing with financial losses. But with Business Interruption Insurance, you don’t have to.
What does Business Interruption Insurance cover?
In the event your business has to temporarily close due to an unforeseen circumstance, Business Interruption Insurance will cover the loss of income suffered as a result of the interruption.
It covers the cost of any material damage and loss of revenue, rental income and additional staff/running costs. Your policy can even extend to cover the expenses of moving to, and working from, a temporary location.
Your coverage will be dependent on your insurer and business – please check your individual policy for detailed information about what you’re covered for.